Corporate lenders vs taxman: Round one of bankruptcy bout goes to the lenders

The ruling will also set a precedent for several other IBC cases, say industry trackers. Often, the corporate lenders and the tax department are at loggerheads over who has the first right on the proceeds from the sale of an insolvent company.

source https://economictimes.indiatimes.com/industry/banking/finance/banking/corporate-lenders-vs-taxman-in-bankruptcy-fights-round-one-goes-to-the-lenders/articleshow/81122692.cms